![]() In 25 years of being a PayPal customer, I have never been seen what has taken place over the course of the time since Synchrony took over. They have resorted to a practice of applying payments to promotions in such a way that it's all but impossible to avoid interest if there is a mixture of so-called 12/24-month Easy-Pay promotions and 6-month promotions. What PayPal Credit, or should I say Synchrony Bank which took over PayPal, is doing, is predatory at best and feels illegal, to say the least. Review collected by and hosted on G2.com. They should be ashamed AND I would never recommend this Credit company to anyone except as a last resort. And if they continue this practice they will never have Prime or Prime+ customers for long. I suspect PayPal has subbed out or sold their CC portfolio to a company that specializes in Subprime. ![]() I have worked in the CC industry for over 20 years and this is the kind of practice that one might expect in a supprime portfolio. Had they taken the time to look at our credit history (FICO's consistently in the mid-high 800's) they would have seen this and known that the bill would be paid.ĮVERY time this has happened with other CC lenders they have made a courtesy call to give us an opportunity to bring our account current. Paying off our credit cards in full every month, religiously. Certainly, we have missed payments by accident but we have always made them up. We've had credit cards for almost 50 years and in that time we have NEVER had this happen. In fact the customer service agent seemed to think we were more concerned about the late fee than the credit score change.įor those who don't know a credit score drop of 100 points can mean he difference between the best interest rates and lower rates on long term loans. We immediately closed the account when they were not willing or able to rescind the report. ![]() We had an account with them and due to changing banks and missing a mailed statement they filed a 30 day late report to the CRA's resulting in a drop in credit score of almost 100 points.
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